VertCoin (VTC) to HardFork to Lyra2RE on December 16th

4Dec 2014

VertCoin hasn’t been doing so good lately due to the coin relying on the kind of outdated Scrypt-N algorithm, though profitability wise it wasn’t so bad to mine and sell immediately at times. This however is hopefully going to change later this month or to be more precise around December 16th when a HardFork of the VTC is expected to happen to a new algorithm – Lyra2RE. The fork will happen at block 208301 and you will have to upgrade your wallet before that to continue using it after the fork. The people behind the development of the VertCoin have published a whitepaper with more information about the Lyra2RE algorithm. Lyra2RE is a chained algorithm consisting of five different hash functions: Keccak, Skein, Groestl, Blake and Lyra2 and working forks of ccMiner and sgminer with support for it should soon be available for GPU miners with both AMD and Nvidia mining rigs. Hopefully this hardfork to a new algorithm will help revive the interest and bring up the price to similar levels it has been at before, hopefully it can successfully follow the footsteps of the FTC fork to NeoScrypt, but we’ll have to wait and see later this month what will actually happen.

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